Sen. Debbie Stabenow will kick off her re-election bid with about $3 million in the bank, according to the Associated Press.

The Michigan Democrat will also report raising $1.2 million in the first three months of this year.

Stabenow is running for a third term in 2012. Her race is expected to be competitive, although no Republicans have officially jumped into the fray yet. Several Republicans — including former Rep. Pete Hoekstra, former Michigan Secretary of State Terri Lynn Land and former state GOP Chairman Saul Anuzis — are considering entering the race.